ETF Trends: Market Consolidates Recent Gains

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Includes: AGG, BBH, CEW, DIA, EEM, EWG, EWQ, EWS, EWT, EWU, EWX, EWY, FNIO, FXC, FXI, FXY, GLD, GMF, GUR, ICN, IEV, ITB, IWM, OIH, QQQ, REM, RSX, RTL-OLD, SMH, SPY, SWH, TIP, TLT, UNG, USO, VGK, XHB, XLF, XLK, XLP, XLU
by: J Clinton Hill

The trends for riskier assets are skewed towards the upside. However, Monday witnessed a selloff in equities but also buying support in the final hour of trading.

Overall, I would label the trading session a consolidation period with bearish overtone as 42% of Hillbent’s broad universe of stocks traded down on contracting volume.

(For a detailed analysis of today’s positive & negative earnings surprises, please refer to Hillbent’s earnings summary reports.)

Signing off @ Hillbent for The Market Direction…

ETF Trend Monitor (08-24-2009)

U.S. Equity ETFs
Equity Indexes Short-term Intermediate Primary
DIA (DJ Industrials) up up up
SPY (S&P 500) up up up
QQQQ (Nasdaq 100) up up up
IWM (Russell 2000) up up up
VXX (S&P 500 VIX Futures) down down down
Major Sectors Short-term Intermediate Primary
XLY (Consumer Discrtn) up up up
XLP (Consumer Staples) up up up
XLE (Energy) up up up
XLF (Financials) up up up
XLV (Health Care) up up up
XLI (Industrials) up up up
XLB (Materials) up up up
XLK (Technology) up up up
IYZ (Telecom) up up down
XLU (Utilities) up up up
Key Industries Short-term Intermediate Primary
BBH (Biotech) up up up
OIH (Oil Services) up up up
PPH (Pharmaceuticals) up up up
RKH (Regional Banks) up up up
RTH (Retail) up up up
SMH (Semiconductors) up up up
SWH (Software) up up up
IYT (Transportation) up up up
International Equity ETFs
Americas Short-term Intermediate Primary
ISI (S&P 1500) up up up
EWC (MSCI Canada) up up up
EWW (MSCI Mexico) up up up
Europe Short-term Intermediate Primary
EWU (MSCI United Kingdom) up up up
EWG (MSCI Germany) up up up
EWQ (MSCI France) up up up
RSX (Mkt Vectors Russia) up up up
VGK (Vanguard Europe) up up up
IEV (S&P Europe 350) up up up
Asian-Pacific Short-term Intermediate Primary
EWA (MSCI Australia) up up up
FXI (FTSE China) down up up
EWH (MSCI Hong Kong) up up up
IFN (India Fund) down down lateral
EWJ (MSCI Japan) up up up
EWS (MSCI Singapore) up up up
EWY (MSCI South Korea) up up up
EWT (MSCI Taiwan) lateral up up
Emerging Markets Short-term Intermediate Primary
EEM (MSCI Emerging Mkts) up up up
GMF (Emerging Asia Pacific) up up up
GUR (Emerging Europe) up up up
GML (Emerging Latin America) up up up
GAF (Middle East & Africa) up up up
EWX (Emerging Small Caps) up up up
Alternative Assets
Commodities Short-term Intermediate Primary
GLD (Gold) lateral lateral up
SLV (Silver) lateral up up
DBB (Base Metals) up up up
JJC (Copper) up up up
USO (Oil) up up up
UNG (Natural Gas) down down down
UGA (Gasoline) up up up
DBC (Commodities) lateral up lateral
DBA (Agriculture) lateral lateral down
Forex Short-term Intermediate Primary
UUP (U.S. Dollar) lateral down down
FXE (Euro) lateral up up
FXY (Japanese Yen) lateral up up
FXB (British Pound) down up up
FXC (Canadian Dollar) up up up
FXA (Australian Dollar) up up up
FXM (Mexican Peso) up up up
BZF (Brazilian Real) lateral up up
CYB (Chinese Yuan) lateral lateral lateral
ICN (Indian Rupee) lateral lateral lateral
XRU (Russian Ruble) up lateral n/a
CEW (Emerging Currency) up up n/a
Bonds Short-term Intermediate Primary
SHY (1-3 Yr Tsy) lateral lateral lateral
IEF (7-10 Yr Tsy) up lateral down
TLT (20 Yr+ Tsy) up up down
TIP (Tsy Inflation Protect) up up up
AGG (Investment Grade) lateral up up
JNK (Hi Yld Bonds) lateral up up
HYG (Hi Yld Corp) lateral up up
WIP (Int’l Inflation Protect) up up up
EMB (Emerging Markets Bonds) lateral up up
MUB (Nat’l Muni Bond) lateral up lateral
Real Estate Short-term Intermediate Primary
IYR (DJ US Real Estate) up up up
XHB (Homebuilders) up up up
ITB (Home Construction) up up up
FIO (Industrial Office) up up up
REM (Mortgage Reits) up up up
REZ (Residential Index) up up up
RTL (Retail Index) up up up

Market Momentum Monitor (08-24-2009)

Market Momentum 20-Day MA 50-Day MA 200-Day MA
Today 72.67% 85.18% 90.23%
Yesterday 74.63% 85.79% 90.26%
Last Week 43.99% 74.80% 86.58%
Last Month 87.87% 85.01% 85.99%

Disclosure: Hillbent.com, Inc. or its affiliates may own positions in the equities mentioned in our reports. We do not receive any compensation from any of the companies covered in our reports.